Casinos as a commodity

While a proposed Clark County casino first has to get federal court approval the Mohegan Tribal Gaming Authority has at least restructured its debt.

That move backs up what CEO Mitchell Etess told The Columbian in February, that “there’s absolutely no change in our excitement” to partner with the Cowlitz Tribe.

Etess hinted at plans to downsize the proposed La Center casino, however, as plans were made before the economy tanked.

Since we all have plenty of time to kill while the case is pending in U.S. District Court in Washington D.C., may I suggest reading this March 14 story from the New York Times.

The story, “Foxwoods Casino is fighting for its life,” chronicles the story of the Mohegan Sun’s competitor. The Foxwoods is the largest casino in the Western Hemisphere while the Mohegan Sun is more modest – it is only the second largest casino in the Western Hemisphere.

The story also gets into this: “Casino gambling has become a commodity, available within a day’s drive to the vast majority of U.S. residents. Some in the industry talk of there being an oversupply, as if their product were lumber or soybeans.”